The Rolling Stones star could now face a possible divorce settlement of up to £50 million, according to The News of the World.
As well as taking half of Wood's £75 million fortune, the 53-year-old is also believed to want a further 20% for her work as his executive assistant.
"Jo has had enough of his behaviour," a friend said. "She feels humiliated, spurned and furious that her best friend has treated her like that.
"She has spoken with her legal team and they’ve made it clear she is in a terrifically strong position."
The revelation came as Wood, 61, was photographed enjoying a romantic meal with Ivanova.
"The family are backing their mum in this fight. They reckon Ronnie has overstepped the mark. Although the divorce would be painful, Ronnie has undoubtedly let them all down."
A source close to Wood said that there were no divorce proceedings active at this time despite the reports.